Guidewire Software (GWRE) Upgraded at Zacks Investment Research

Guidewire Software (NYSE:GWRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Guidewire Software is a provider of software solutions for property and casualty (P&C) insurers. Shares of the company have outperformed the industry over the past one year. The company’s strategic partnership with Salesforce is expected to be a positive. Additionally, the company’s recent acquisition of Cyence is anticipated to enhance its product suite. Also, Guidewire’s cloud deployment partner, Amazon’s Web Services is also gaining momentum and this bodes well for it. However, the company is transforming to a subscription based model from a term license based one, which might hurt the top line in the near term. This is because the costs related to the shift will put pressure on margins in the near term and affect the top line as term license revenues include advance payments whereas subscription-based revenues are a bit delayed.”

A number of other brokerages have also recently issued reports on GWRE. KeyCorp reissued a “buy” rating and set a $86.00 price objective on shares of Guidewire Software in a report on Friday, September 29th. Stifel Nicolaus increased their price objective on Guidewire Software from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, September 7th. Deutsche Bank reissued a “buy” rating and set a $85.00 price objective on shares of Guidewire Software in a report on Thursday, November 30th. BidaskClub cut Guidewire Software from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. Finally, Citigroup set a $85.00 price target on Guidewire Software and gave the company a “buy” rating in a report on Thursday, November 30th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $80.11.

Shares of Guidewire Software (NYSE:GWRE) traded up $0.34 on Tuesday, reaching $74.26. The company had a trading volume of 417,100 shares, compared to its average volume of 472,607. The stock has a market cap of $5,596.39, a PE ratio of 275.04, a price-to-earnings-growth ratio of 84.27 and a beta of 1.17. Guidewire Software has a twelve month low of $49.18 and a twelve month high of $83.52.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Wednesday, November 29th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). The company had revenue of $108.20 million for the quarter, compared to analysts’ expectations of $100.61 million. Guidewire Software had a return on equity of 3.29% and a net margin of 3.82%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. equities analysts forecast that Guidewire Software will post 0.06 EPS for the current year.

In other news, insider Scott Roza sold 782 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $78.51, for a total transaction of $61,394.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard Hart sold 375 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $77.40, for a total value of $29,025.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,128 shares of company stock worth $6,026,791. Insiders own 0.69% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. increased its position in shares of Guidewire Software by 51.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 88,489 shares of the technology company’s stock valued at $6,079,000 after purchasing an additional 30,089 shares during the last quarter. First Trust Advisors LP increased its position in shares of Guidewire Software by 3,290.9% during the 3rd quarter. First Trust Advisors LP now owns 105,797 shares of the technology company’s stock valued at $8,237,000 after purchasing an additional 102,677 shares during the last quarter. BlackRock Inc. increased its position in shares of Guidewire Software by 3.4% during the 2nd quarter. BlackRock Inc. now owns 3,175,007 shares of the technology company’s stock valued at $218,156,000 after purchasing an additional 103,707 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Guidewire Software during the 2nd quarter valued at about $304,000. Finally, Vanguard Group Inc. increased its position in shares of Guidewire Software by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 5,789,792 shares of the technology company’s stock valued at $397,816,000 after purchasing an additional 96,478 shares during the last quarter.

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About Guidewire Software

Guidewire Software, Inc is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. The Company’s InsurancePlatform consists of three elements: core transaction processing, data management and analytics, and digital engagement.

Analyst Recommendations for Guidewire Software (NYSE:GWRE)

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